Golden Visa Spain vs Portugal: Which is the Better Investment Option?

The Golden Visa programs in Spain and Portugal have gained significant popularity among non-European Union (EU) citizens seeking residency in Europe. Both countries offer attractive investment opportunities and a path to EU residency, making the decision between the two options challenging. In this blog, we will compare the Golden Visa programs in Spain and Portugal to help you determine which is the better investment option for your specific needs and preferences.

Investment Requirements:

The investment requirements for the Golden Visa programs in Spain and Portugal differ slightly. In Spain, investors can choose between options such as Spain Golden Visa purchasing real estate (€500,000 minimum), investing in Spanish companies or businesses (€1 million minimum), or acquiring government bonds (€2 million minimum). On the other hand, Portugal offers real estate investment (€500,000 minimum), capital transfer (€1 million minimum), job creation (minimum of ten jobs), or research activities (€350,000 minimum) as qualifying investment options. The choice of investment route may depend on your investment capabilities and goals.

Real Estate Opportunities:

Both Spain and Portugal offer attractive real estate opportunities for Golden Visa investors. Spain’s real estate market provides diverse options, ranging from coastal properties to city apartments, with relatively affordable prices. Portugal, particularly the Algarve region, is also known for its picturesque properties and favorable property prices. The decision between the two countries may depend on your preferred location, lifestyle, and investment potential within the real estate market.

Access to the European Union:

Both Spain and Portugal are EU member states, providing Golden Visa holders with the benefits of free movement within the Schengen Area. This allows visa holders to travel, live, and work in any of the 26 Schengen countries. The freedom to explore and do business across the EU is a significant advantage for individuals seeking broader opportunities and international mobility.

Residency Requirements:

In terms of residency requirements, Spain and Portugal have different conditions. Spain requires a physical presence of at least one day per year to maintain residency, while Portugal mandates a minimum of seven days per year. The residency requirements may influence your decision based on your availability and desired level of commitment to maintaining residency in each country.

Language and Cultural Considerations:

Language and cultural factors can also play a role in choosing between Spain and Portugal. Spanish is the primary language in Spain, while Portuguese is the official language in Portugal. Consider your language proficiency and cultural compatibility when selecting a country for your investment. However, it is worth noting that both countries have a significant English-speaking population and offer welcoming environments for expatriates.

Tax Considerations:

Taxation is an essential aspect to consider when evaluating investment options. Both Spain and Portugal offer attractive tax regimes for Golden Visa holders. Spain adopts a territorial taxation system, meaning that residents are taxed on Spanish-sourced income. Portugal follows a similar system with the Non-Habitual Residence (NHR) regime, offering favorable tax treatment for specific types of income. Consultation with tax advisors is recommended to fully understand the tax implications in each country based on your personal circumstances.

Economic Factors:

Economic stability and growth prospects are crucial considerations for investors. Both Spain and Portugal have seen significant economic progress in recent years. Spain has a larger economy and more diversified sectors, including tourism, renewable energy, technology, and manufacturing. Portugal, on the other hand, has experienced strong growth in sectors such as tourism, real estate, and renewable energy. Assessing the economic climate and opportunities in each country can help you align your investment goals with the country’s economic potential.


Choosing between the Golden Visa programs in Spain and Portugal requires careful consideration of various factors, including investment requirements, real estate opportunities, access to the EU, residency requirements, language and cultural considerations, tax implications, and economic factors. While both countries offer attractive investment options and residency benefits, the decision ultimately depends on your specific circumstances, preferences, and investment goals. Conduct thorough research, seek professional advice, and evaluate your priorities to determine which option aligns best with your long-term objectives.

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